Publicly traded AI-powered real estate platform DeFi Development Corporation purchased another 172,670 Solana (SOL) for an average purchase price of $136.81, or around $24 million in total, the Nasdaq-listed company announced on Monday.
The purchase brings the firm’s total holdings to nearly 600,000 SOL, valued at approximately $105 million at the current price.
“Crossing the $100 million mark in Solana purchases is a major milestone—but it’s just the beginning,” DeFi Development Corp. CEO Joseph Onorati told Decrypt. “Our model is built to accumulate aggressively and opportunistically, and we aim to buy as fast as possible.”
Monday’s purchase announcement marks the company’s 10th SOL addition since it started buying just over one month ago.
While more than 70 companies have followed Strategy and Michael Saylor’s path and started stacking Bitcoin on their balance sheets, DeFi Development Corp. is filling out its treasury with a core focus on Solana—and it’s doing so quickly.
The company, which recently changed its name from Janover, only unveiled its plans to adopt a digital assets treasury in early April. Since that time, it’s showcased its new focus on crypto with a flurry of moves, adding $100 million in Solana to its treasury and changing its name and stock ticker to underscore its commitment to crypto.
Last week the company also announced it acquired a Solana validator business, and will automatically stake its acquired Solana to help secure the layer-1 blockchain’s proof-of-stake network while also earning native yield.
The strategic company shift has thus far been a positive for shareholders.
Shares of DFDV are up 74% in the last month and more than 1,700% year-to-date, rising 19% since open on Monday to a current price above $89 following the latest announcement. Major stock indices like the S&P 500 and Nasdaq are up approximately 2.9% and 3.9%, respectively, after the U.S. announced a partial truce with China over trade tariffs.
Shares will undergo a 7-for-1 stock split later this month in an effort to “enhance liquidity and make DFDV more accessible.”
Meanwhile, Solana continues its weekly surge, up nearly 22% in that time to $175. The sixth-largest crypto asset by market capitalization remains 40% off its January all-time high, according to CoinGecko.
Edited by Andrew Hayward
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